A savings and credit cooperative society in Kirinyaga County will now start offering current account services to its customers, following partnership with
The deal will now see
By law, savings and credit cooperative societies (Saccos) and non-deposit taking microfinance institutions are not allowed to offer trade finance services like bid bonds, performance bonds (instrument issued by a bank or financial institution guaranteeing the fulfilment of a particular contract), and foreign currency transactions.
They are also not part of the clearing house, thus have no access to the national payment system.
"We are now able to satisfy the demands of our members who have historically maintained multiple accounts to enable them access all the services they need under one roof,"
"We will also aggressively pursue new markets and opportunities which have been created for youth and women in our county,"
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